News » BIM – the impact on the insurance market

BIM News

BIM – the impact on the insurance market

When the Government announced in May 2011 that Building Information Modelling (“BIM”) would be compulsory on all public sector projects from 2016, BIM was rapidly elevated from the status of clever software used by some to a development insurers needed to monitor.

BIM Outsourcing Service

With no reported claims yet to emerge anywhere in the world (a claim involving BIM in the US in 2011 was settled out of court), insurers are keeping a watchful eye on the ways in which BIM is being implemented.

In March 2013, the Construction Industry Council (“CIC”) launched a BIM Protocol with the aim of setting out stakeholders’ rights and liabilities when working on BIM projects. It also published the Best Practice Guide for Professional Indemnity Insurance when using BIM and the Outline Scope of Services for the Role of Information Management.

What is BIM?

BIM is a process whereby the multiple stakeholders on a construction project collaborate to create a shared digital model of the project.

Read More